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Updated over 10 years ago on . Most recent reply

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Johnny Harrington
  • Real Estate Investor
  • Birmingham, AL
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Why is my buyer's agent so motivated to only review pocket listings?

Johnny Harrington
  • Real Estate Investor
  • Birmingham, AL
Posted

I understand that once a property is listed, the competition grows, and the pool of people with awareness of the offering increases... but this one just went live, fits all his criteria: the price, the CAP rate, the potential upside, the cash on cash, it all fits. But he's ambivalent because it hit the open market last week.

  I'm fairly new to commercial properties selling in the millions, so I'm deferring to you, Bigger Pockets! What's the deal?

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Steve Vaughan#1 Personal Finance Contributor
  • Rental Property Investor
  • East Wenatchee, WA
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Steve Vaughan#1 Personal Finance Contributor
  • Rental Property Investor
  • East Wenatchee, WA
Replied

So who is 'he'? The agent?  What criteria does an agent have? They normally seek their client's criteria and look for property based on that.   To answer your heading question, agents love pocket listings because they get both sides of the commission.  Same work, twice the money.  Just my experience.

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